Question 7

View Policies Current Attempt in Progress Ayayai Corp. uses a periodic inventory system and reports the following for the month of June. Date June 1 Units 126 504 Unit Cost $4 Total Cost $ 504 Explanation Inventory Purchases Purchases Inventory 12 6 3,024 23 315 8 2,520 30 295 (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (For calculation purposes, round average cost to 3 decimal places, e.g. 5.275. Round answers to decimal places, e.g. 125.) FIFO LIFO Average-Cost The cost of the ending inventory The cost of goods sold